Laboratory Co. of America (NYSE:LH) Given New $234.00 Price Target at Barclays

Laboratory Co. of America (NYSE:LH) had its target price decreased by stock analysts at Barclays from $249.00 to $234.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target suggests a potential upside of 7.99% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler initiated coverage on Laboratory Co. of America in a report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price target on the stock. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Truist Financial lifted their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $251.85.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded up $0.01 during trading hours on Wednesday, hitting $216.69. 345,645 shares of the company traded hands, compared to its average volume of 661,830. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $238.46. The firm has a market cap of $18.27 billion, a P/E ratio of 43.60, a P/E/G ratio of 1.67 and a beta of 1.05. The firm’s 50-day simple moving average is $223.22 and its two-hundred day simple moving average is $211.94. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.42 earnings per share. As a group, analysts forecast that Laboratory Co. of America will post 14.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several large investors have recently modified their holdings of LH. Pathway Financial Advisers LLC bought a new stake in Laboratory Co. of America in the first quarter valued at $30,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America during the second quarter worth approximately $32,000. Family Firm Inc. bought a new position in Laboratory Co. of America in the 2nd quarter valued at $37,000. Finally, McClarren Financial Advisors Inc. boosted its stake in Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.